Set in the capital city of England, the threesome will travel to the European country to attend the funeral of the British prime minister. They, along with an English MI6 agent, have to stop a plot to take down London before it's too late. No actor has been announced to take on the new role.

Katrin Benedikt and Creighton Rothenberger are back to write the screenplay. Angela Bassett and Radha Mitchell are also expected to reprise their roles as the director of the Secret Service and Mike's wife respectively. Production is scheduled to begin on May 5, 2014.

Producers are now still looking for a new director, as "Olympus Has Fallon" helmer Antoine Fuqua is confirmed that he won't return for the sequel.

The first film was released in March this year, just a few months before Channing Tatum and Jamie Foxx's "White House Down", which has a similar terrorist attack plotline, hit theaters. Made on a budget of $70 million, "Olympus Has Fallen" grossed $161 million worldwide.